University of Oregon, <br />ERB MEMORIAL UNION, UNIVERSITY OF OREGON <br />Oregon's flagship <br />research university, is <br />roughly three miles: <br />— — _ <br />'";:^' <br />away from the River <br />=- <br />Road/Santa Clara <br />Area's southern end. <br />The University is about a <br />20 -minute bike ride, a <br />Ij <br />10- to 15 -minute drive, <br />or a 30- to 45 -minute <br />- <br />bus ride away from the <br />southern end of they <br />a <br />study area. <br />- <br />- <br />s' <br />Implications <br />Compared to the rest of Eugene, the current residents of the River Road/Santa Clara area are <br />more likely to be older homeowners with higher incomes. While the data does not clearly show <br />this, it is likely that many of those older homeowners have lived in the area for many years – <br />possibly since raising their children there. Homes occupied by homeowners ages 65 and older <br />account for roughly a quarter of the single family housing stock in the River Road/Santa Clara <br />area, with homeowners ages 75 and older representing roughly 10% of the single family <br />housing stock. According to a national survey by the AARP, 76% of adults age 50 and older <br />prefer to remain in their current home as they age. Only 13% expect to move within their <br />community as they age; roughly a quarter say they plan to relocate to a new area (outside their <br />existing community).10 Those who do remain in their own home are likely to focus remodeling <br />expenditures on age -friendly features." This suggests that older homeowners will likely <br />continue to occupy much of the existing single family housing in the River Road/Santa Clara <br />area for the next 10 or more years, with little appetite for infill or redevelopment aside from <br />some interest in ADUs. However, in the longer term, more of the units owned by older <br />householders are likely to turn over to new owners, creating opportunities for new families to <br />move in or for new owners to consider infill or redevelopment options. <br />There are also proportionately more families with children (particularly those with school-age <br />children) among both homeowners and renters in the River Road/Santa Clara area than in the <br />10 Binette, Joanne and Kerri Vasold. 2018 Home and Community Preferences: A National Survey of Adults Age 18 -Plus. <br />Washington, DC: AARP Research, August 2018. haps://doi.org/10.26419/res.00231.001 <br />11 Home Instead Senior Care survey results, Mar 26,2019: haps://vvww.12rnewswire.com/news-releases/should-i-stay- <br />or-should-i-go-aging-in-Place-has-a-new-meaning-for-seniors-300817785.htm1 <br />ECONorthwest 23 <br />196 <br />